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. >> reporter: in the weekly address to the nation, president obama urged congress to do something. >> we can't afford a politically self-inflicted wound to our economy. >> reporter: congress will try to find compromise. >> i am still optimistic and i think we can avert this and there is enough common sense to come together and get it solved. >> reporter: a combination will kick in on january 1st. if no deal is made, president obama will press congress to vote on a plan c, one keeping tax cuts in place for most americans. in washington, mike emmanuel, fox news. >> when it comes to the spending cuts, critics are more concerned. they will be cut by $50 million what will be cut is undetermined. >> it's going to affect the operational force that is deployed in terms of its ability to maintain its equipment and to get repair parts and that forces on force is deployed around the world. not just in afghanistan but being reduced. it would impact the training of the force. >> whatever happens, citizens won't so any trouble if congress doesn't act by the new year. they have a few days to act. >>> fair
still hopes congress can reach agreement to avoid the so- called fiscal cliff. obama met congressional leaders at the white house on friday to discuss a deal. he said the talks were constructive, but did issue a warning on behalf of the american people, demanding congress take action. >> america wonders why it is that in this town, for some reason, you cannot get stuff done in an organized time table, where everything has to wait till the last minute. we are now of the last minute. in the american people are not going to have any patients for a politically self-inflicted wound to our economy. >> the president said he was modestly optimistic that the january 1 deadline for the fiscal cliff could be averted, but that is contingent on a vote in the senate on a compromise bill, and that will have to get an up or down vote. there is a majority for that, with some tax increases for upper-income people. the question is what level would be acceptable to republicans. more crucial to that is, whatever the senate proposes and passes on to the house, will it be acceptable to the majority of republ
.s. congress on how to avoid the so-called fiscal cliff. earlier, president obama spoke on how to avoid the budget crisis. and turkey's prime minister has said the war in syria will soon be over. he made the comments as he visited refugee camps on the turkish border. protesters in india who have been calling for harsher punishments for rapists have been holding a candlelit vigil in the capital the they gathered in new delhi -- delhi to mourn the death of a 23-year-old gang rape victim. the attack on her earlier this month throwed nypd protests. six suspects have been charged with murder after she died sunday. she had been receivering medical attention in spinning. the -- in singapore. she's been cremated. rebels in the central african republic are reported to be only one town away from the capital. the army was forced to retreat when the rebels advanced on saturday. they already have control of four other regional capitals in both the north and center of the country. rebels have rejected offers to negotiate. there's been more violence in iraq where sunni muslims are continuing to demons
for nearly every american. dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is closed today for boxing day as are some of the former brish colonies. in europe the dax down about there a
obama and congress will reach a deal in time but that number has dropped in the past week. president obama plans to cut short his family vacation in hawaii leaving for washington late tonight. yesterday, he spoke to troops at a marine corps base in hawaii. >> on behalf of michelle and myself and our whole family we do this every year. this is where i was born so we come back for the holidays but one of our favorite things is always coming to the base on christmas day and having a chance just to meet you, those of you who have families here and to say thank you for the extraordinary work and service that you guys do each and every day. >> chip reid is in washington with more on the budget talks. chip, good morning. >> good morning, rebecca. as you mentioned, the president plans to cut short his vacation in hawaii and fly back to the white house later tonight, arriving about noon thursday. here in washington there has been no communication between republicans and democrats about how to avoid going over the cliff. before the christmas break speaker john boehner
and daughters in hawaii. the vice president is scheduled to be here today for meetings. don't forget the obama administration and congress have the debt ceiling hanging over them. the u.s. set to hit the borrowing limit of over $16 trillion by the end of the year. there's a lot going on at 2012 winds down. in congress, the senate is in session, the house is not. it's the first time either chamber has been in session for business between christmas and new year's since 1970. >> trace: so they're coming back to work. the president probably wished he stayed in hawaii because not much has changed. >> both sides are waiting for the other to make the first move. senate republicans are ready to look over a plan the democrats put forth but they say there's no plan. this morning the top senate democrat, harry reid, chided the top house republican, john boehner, nor not calling the house legislators back into zes speaker boehner should call them back today. he shouldn't have let them go in fact. they're not here. they are not here. john boehner seems to care more about keeping his speakership than keepin
the economy back into recession, mr. obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they were waiting for the democratic controlled senate. the house will take this action on whatever the senate can pass they said but the senate first must act. in a sign of public frustration over the lack of a deal the coffee giant starbucks is asking employees in approximately 120 washington area cafes to write the words "come together" on cups for drink orders. >> we just wanted to have a subtle message of co
, kron 4. >> president obama is urging congress to reach a deal to avoid the fiscal cliff. in today's radio and internet address, mr. obama says he believes leaders in congress may be able to reach an agreement that can pass both houses before taxes rise and spending cuts take effect at the end of the year. he urges "washington politics" to not get in the way of "america's progress." meanwhile, in the republican address, missouri senator roy blunt says the nation can avoid going over the fiscalbama and the democratic- controlled senate work with republicans to solve the problem. >> the senate has approved a 60-point-4 billion dollar emergency spending package for hurricane sandy recovery. the measure, which was backed by democrats, now heads to the house. meanwhile, republican leaders favor a smaller aid package to pay for immediate sandy recovery needs, saying they need more time to consider any additional aid. >> sandy battered the east coast in late october. it was the most costly natural disaster since hurricane katrina in 2005. >> a connecticut attorney is asking permission to
exchange." i'm kelly evans. >> and i'm louisa bojesen opinion. >>> president obama calls congress back to the capital. >>> investors are bracing for the final eurozone bond sale of the year. italy is expected to see solid demand when it sells up to 6 billion euros of longer dated paper today. >> and japan's finance ministers saying other countries have no right to lecture japan on its currency policy instead calling for the u.s. to seek a stronger dollar. >>> let's take a quick check of the u.s. markets. the dow, nasdaq and s&p 500 down four days in a row something on the average of 2% when it come to the nasdaq. we're seeing pointed arrows this morning, again. looking to shed three or four points at the open, similar small decline seen for the nasdaq and for the s&p. most are still well in the green for the year, although december will be a down month unless the nasdaq can turn it around quickly. european bourses, the ftse 100 just barely lower, though, not moving too much. the xetra dax is an underperformer, down about .3%. the cac 40 also a mirror image of what we saw yesterday. the
. >> if president obama and congress aren't able to avoid the fiscal cliff people here in california will be hit especially hard because of prop 30 which was voted into law back in november. it will soon mean higher sales tax and higher income tax on the state's top earners. the fiscal cliff would add to that hitting all americans with higher taxes. >> i don't know, there's a word to describe how upset the public is going to be. nobody's going to be happy to see that happen. >> if taxes go up on everybody it's not going to be a happy time. but i think that's inevitably what's going to happen. >> they say the lowest income folks will see their take home pay shrink just over three and a half%. average earners 4% and top earners 6%. >> another sign the housing market is improving, the national association of realtors says pending home sales rose last month to the highest level in 2 and a half years. pending sales rose nearly 2% in november and that's the third month in a row it's gone up. >> amazon had a green christmas season. they announced the 2012 holiday sales were the biggest ever. they had s
into effect. today president obama called on congress to agree on a compromise plan to protect the middle class. >>> the woman who went to prison for murdering the scarsdale diet doctor in 1990 has herself died. jean harris was 89. she was the doctor's longtime lover. he developed the famous fad, the diet in the 1980s, and harris said she found him treated on her and tried to commit suicide in front of him. they wrestled over a gun and he was shot. >>> former president george h.w. bush is getting better. he is reportedly singing with doctors and nurses in the houston hospital where he is at, although he is still in the intensive care unit. the senior bush has been in the hospital now for more than a month, but his family says that they are confident that he'll be out or released soon. >>> a cancer diagnosis didn't stop one man. in fact, at 79, it is spurring him on to achieve new goal as a marathon runner. >>> plus, no more nudity in san francisco. at least not in public. it is one of the most outrageous lawsuits of the year. and of course our legal guy will weigh in. announcer ] what if
and a plan for an economic growth and deficit reduction. >> that was president obama talking with four days left in that fiscal cliff deadline saying he's hoping congress will reach a deal on this. if not, he's asking them to bring a package to the floor that will protect middle class mrns. >>> coming up all brand-new at 6:00, american families are now banned from adopting russian children. we'll hear from one local family who calls it a death sentence for thousands of small children. >> before you get to work on your next home repair project, we're warning you about the dangers of trying to do it yourself. now a preview of what's ahead on world news at 6:30. >> the 11th our deal or no -- hour deal or no deal. tonight the track of the storm and where it will hit. >>> the nation is mourning the loss of the man who led allied forces in the gulf war. norman schwarzkopf was credited with winning the war and the public's imagination. >> reporter: in 1990, norman schwarzkopf was a little known general looking ahead to requirement -- retirement. then he led into the face of the u.s. counterattack,
. it forces members of congress and president obama to spend the last few days of 2012 on the job. we want to bring in cnn chief white house correspondent, jessica yelen, we all know they would rather celebrate new year's eve elsewhere. how did they get here? >> reporter: it is such a good question, you know, candy, this grid lock in washington creates the eye-rolling. but the fundamental question goes to the essential differences between the two parties about the role of government, should it be bigger or smaller? about whether we want lower taxes or more of a social safety net. so while we have seen the principles, the president, speaker boehner, and now senator mcconnell and reid trying to get involved in stages in the last few weeks, it has always broken down because they fundamentally disagree about the big ideas over the core of this debate. they're fighting between the two parties. and this could get resolved in a matter of days or weeks. but the big difference, the issues could really take months to work out. >> can it be resolved in the matter of few enough days that they meet tha
to clear out.÷s+0t netflix trying if get more social, it is waiting for president obama to sign a bill passed by congress that removes restrictions on companies sharing video rental history, once it is allowed to do that netflix users will be able to share information with >m facebook that is business news live at the new york stock exchange, ellen brightman, bloomberg . >>> mike is here with a look at the forecast and our little bitty break. >> you are coming up with a lot of neat technical terms. little bitty break, like that.wy the rain. can see cloud cover starting to open up=/w, as we k down to the south from our roof cam at the embarcadero center with the lights still on, ferry building to the bay bridge, good news, no rain out of these clouds. doppler tracking waiting for anything to fall, it is not going to happen. no rain, so thin they will dissipate as we head through the afternoon,zc'u increasiypz sunshine today, yesterday we talked about a rainbow day me some of your pictures and you this was from brentwood yesterday morning. this one spanning the bay bridge this was from
from going over the so-called fiscal cliff. they say if president obama and congress don't make a deal we will almost certainly see a recession. do you buy that, steven? >> the congressional budget office is a nonpartisan group that does this and says we will in fact have an immediate rescission. they say that we come out of a short, sharp recession stronger than we would be if we didn't go into that recession in the first place. we stop borrowing money from the future to prop us up now. we have the immediate problems but in the long term we are in gets shape. that's what they are grappling this. how do they best structure this to do the least amount of damage now but get us to the good economy in the future. >> reporter: if you look up a research paper from the president's own economist you'll find in the long run we are healthier, short run, yeah, it's painful. is that what motivates some of the republicans that, you know, what are called chuckle heads, but maybe in the end they are wisdom heads. >> that is certainly part of the motivation there. the other part of the motivation, and
people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >>> today's meeting will be th
to pluck a man and a dog from a frozen river. i'm harris faulkner in for shepard smith. and president obama says tonight there is still time to get a deal done before we fall off the fiscal cliff. and he demanded congress take action now before it's too late. the president spoke in the white house briefing room just about an hour ago now. he was visibly tense. frustration in his voice. >> america wonders why it is in this town for some reason you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we are now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. >> harris: if congress cannot work out a deal, tax hikes, spending cuts will take effect on tuesday of next week. president obama says he is willing to give congress a little time to come up with a compromise but his patience is limited well as is the rest of the country's. ed henry with the news live at the white house. ed, first, a dramatic meeting earlier today at the white house. and then this
in ten year's time. >> both houses of congress have passed tax relief that will protect the middle class. >> when it came time for the cuts to expire, the u.s. was emerging from the worst recession since the great depression. so president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they are extended by 2020, the bush era tax cuts will be responsible for more than half the total national debt. democrats insist that taxes go up for the wealthy but stay in place permanently for those earning less than $250,000 a year. >> we need to stop the job killing tax hikes and we need to start cutting spending now. >> republicans refuse to play ball. they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls on government to be as small as possible. its roots are as old as american politics, but the philosophies main spokesman is this man, grover norquist, president of americans for tax reform. his pledge signed by almost all republicans in congress for
essentially rewrite legislation. changing the tax congress passed to declare obama care constitutional which is a littleec scary that the highest justice is -- justices in the land would take the activist roll. that's what is scary. the backdrop of the presidential year was europe. we know where this path leads. all this turmoil, the huge welfare and the low productivity and high unemployment that comes along with them, that was the backdrop of the presidential campaign. voters voted, and they said, yes, we are going to keep moving in that direction, kim. where do you think the electorat is here? is it be ibd hue the choices that -- is it behind the choices that jason suggested they might be? >> barack obamaus won this election by very effectively making this a referendum about his opponent, mitt romney. if you went out and asked most americans, do you think barack obama did a great job in his first term? do you want significantly higher taxes? do you want the government to do nothing about spending? are you happy with obama care? most would say no. but in the end the choice was between a pr
and hazmat crews are on the scene. gregg: president obama is apparently cutting his hawaiian vacation short heading back to washington tonight to restart the negotiations on the so-called fiscal cliff. if mr. obama and congress can not agree on a stopgap measure, automatic hikes and spending cuts will hit americans jan 1. peter doocy live in washington with more on this peter, what is the latest? >> reporter: gregg, the president said on friday he would see it this week and maybe if lawmakers went back to home districts to drink eggnog and eat cookies and sing christmas carols maybe they would be more in touch with the hardship so many americans are going to face if the fiscal cliff is not avoided. >> there is a mismatch right now between how everybody else is thinking about these problems. democrats and republicans, outside of this town and how folks are operating here and we've just got to get that aligned. >> reporter: the president's wife and daughters are going to stay in hawaii to continue vacationing. we're told the president may rejoin them or he may not. it all depends on how negot
of high spirited presidential campaign. congress chocked full of retirement and president obama healthcare law. 2012 is a bit of a nail biter. president obama ran uno'posed. but sluggish economy and high unemployment and no plan for recovery made him vulnerable. >> president's policies have not been success to feel reignite the economy, putting people back to work. >> earning his party's nomination was not as easy for the former massachusetts governor mitt romney. even though romney went on to win decisive victories and becoming the republican nominee he emerged from the primary battle bruised. >> he is the worst republican in the country to put up against barack obama. >> romney's campaign saw several ups and downs but appearing confident and in command in the first debate, romney threw president obama off the game with the president delivering a shaky performance. >> the first debate sets the tone and can have the most impact but yeah, look, this is a series. >> mr. obama regained the footing by the third and final debate and ultimately won re-election. >> the best is yet to come. >> lo
is already fan. >> reporter: press the barack obama needs is- president barack obama is saying that the congress need to take immediate action. the meeting today was good, and constructive but there's no agreement there should be a vote on his proposal to extend unemployment benefits and also help with tax cuts on the middle-class. justin waldman, kron 4. >> reporter: the city of richmond has been issuing a permit to pg&e. this san bruno explosion.. for chevron is hoping that this will be completely repaired by the end of next year. >> reporter: senator cherry hill well propose a bill to install an interlock device on their vehicles. >> for one year and comply with the calibration every other month. before fully getting their driving privileges back this will make it clear that repeat offenders to not complete the interlock program there will never get their license back. >> reporter: haazig madyun redwood city, kron 4 >> reporter: just a couple of days away from a to year's eve and if you might want to consider- public transportation. they have extended transportation or even
obama and congress, along with cappuccinos and lattes. wolf blitzer's off today. i'm joe johns. you're in "the situation room." >>> on this day after christmas, extreme weather is making travel slow, difficult, and dangerous for millions of americans. severe storms are moving toward the east coast right now, packing snow and threatening tornadoes. the kind of blizzard conditions that hit the midwest are moving into new england. the region could get more than a foot of snow tonight and tomorrow. in the south, a storm that unleashed tornadoes is heading into the carolinas and northern florida. at least three deaths are being blamed on the severe weather. cnn's holly firfer is at the busiest airport in atlanta. >> reporter: it's a tough day to travel. as that storm heads through the northeast, it's making it hard to travel by road and in the air. >> reporter: snow, ice, and high winds. >> we want to get out. >> it's always scary when you're flying, that you're going to be stuck in the airport. >> reporter: a massive storm that left many in the midwest and parts of the south with a whit
congress if we go over the cliff. 36% will blame president obama. and 15% will blame both. >> gregg: joining us now independent pollster and founder and president of rasmussen reports, scott rasmussen. scott, we certainly have been getting a lot of e-mails over the course of the last couple of weeks and arrest they will has a -- arthel has a great one. >> arthel: this is from a friend of mine who lives in san diego. she sent a text, she says, fiscal cliff issues drive me crazy! they should not get paid until it's resolved and we have a meaningful budget. none of us could run our household the way washington runs things. what do you say to that? >> you know, that's the real story here. people are looking at these kids in washington who are just messing up and can't do the basics. they're disgusted with both political parties and i think all of our political leaders are going to have a hard time regaining any legitimacy or credibility after this is done one way or the other. it is true congressional republicans are faring a little worse than the president. but people are pretty fed up
. i like the way he looked at obama care and handed it off to congress and the stimulus bill that he handed off to congress. this is the one person doesn't have to bowe to the god of reelection. everybody else is subject to the things you have already talked about, their home. what would lbj have done, blake? not this. >> i would just be frank with you. i think it's an odd gamut. because look, as i just said i'm skeptical about the ability of these two senate leaders to hammer out a deal that would satisfy both of their very competing, completely opposing imperatives and the next step the president said if you guys don't get a deal i'll ask harry reid to put a bill on the floor and we both know in order for that to happen mitch mcconnell will gra have to agree not to filibuster that and the president is daring mitch mcconnell not to engage in a filibuster and it would seem so embarrassing to the public that mcconnell was filibustering a deal for middle-class tax reform. i think that's a risky gamble. i guess the way he, the president, is thinking of it is either he gets that bill on
in the last congress is not true. the problem is this and i feel bad for john boehner if you were obama you don't know who to negotiate with. even with john boehner were to come to obama with a deal, john boehner is being held host and by members of his own caucus who won't let him do that. boehner can work with democrats to get it passnd and throw some of his support with the democrats to get it passed but the problem for john boehner is he has an election coming up for his own leadership position on january 3 and he is afraid to do that. >> laura: again, and i understand why julie is saying this because the republicans don't have a ton of leverage here, stephen. >> they don't. >> they have very little leverage. >> all of the taxes go up, lawyer, a as you know, on january 2. >> is it that bad for president obama if we go over the cliff, oh, throw the nation into recession and lose all these jobs but he views everything through a political lens does he not? >> he does. >> laura: i think they made the calculation this won't hurt them one bit and they have gotten the peg on the tea he party a
. america's seniors are on the verge of losing access to health care. how? if congress and president obama don't act by january 1, tomorrow, medicare payments to physicians will be reduced, will be cut by nearly 27%. you see, mr. speaker, the fiscal cliff is more than just the tax increases that president obama so dearly wants. the effect of the s.g.r. formula means that physicians who treat medicare patients will be forced to limit the number of seniors that they see, fewer patients being seen, doctors forced not to see patients because of foolish washington policy. this jeopardizes health care for millions of folks. the sustainable growth rate, the formula used by medicare to determine physician reimbursement, needs to be repealed. it doesn't work for patients and it doesn't work for doctors. and it's destructive to the very principles that we hold dear about health care. it violates accessibility. it violates quality, and it limits choices, it harms real people. now, there are positive solutions that we're working on so we may responseably reform this broken system, but while we work to
working on a fall back plan that can pass both chambers of congress. >> some people will not like it, but that's where we are. >> reporter: president obama is pushing for a stop gap measure that would at least avoid tax increases on people earning less than $250,000. frustration is growing. a simple stop gap percent is not what men -- measure is not what many in washington hoped for. many blame president obama for the collapse of a bigger deal that would reduce spending and cut the country's debt. >> it is the president's responsibility to lay out a plan and to bring people together. >> house members don't get back here tonight sunday night. >>> president david wilson may be getting a remove of sorts after a lengthy public meeting months announced it is negotiating to keep him on until june 2014. his current contract expires in june of 2013. it was a rough year with two shootings on campus. >>> the russian president signed a law banning americans from adopting russian children. a law that people say is heartbreaking and punishes no one but the children. one family says he just signed
between the white house, the senate, the congress moves to pennsylvania avenue. president obama meeting behind closed doors with house speaker boehner, senate majority leader harry reid and senate minority leader mitch mcconnell talking about doing something to keep more than trillion dollars in tax increases and cuts from taking effect next week. also joining that party today, america's happy warrior. vice president joe biden will be there. while some appear ready to compromise others are still ducking, dodging, trying to dump the blame elsewhere. >> we all have our ideas and in the senate, you're right. we probably another 40, 50, 60 of saying that we're ready to both raise revenues and control entitlements. when's the missing ingredient? it is presidential leadership. >> i think in the end we'll get a deal. the question is the timing. >> am hopeful there will be a deal that avoids the worst parts of the fiscal cliff, namely taxes going up on middle class people. >> it's pretty apparent that we are not going to do what we've been called to do. this is 112th congress. we have had two y
, but that's not stopping president obama from giving every member of congress a pay raise from as much as $6,000. joining us now is peter swietzer a research fellow at stanford university, hoover institution. good to see you, peter. >> hey, it's great to be out with me, thanks for having me. >> dave: is this a bit hypocritical talking about raising taxes for all americans if they don't get a deal done, yet, how do you go ahead and give congress a raise? >> that's a great question. you know, it beats me. there's been a pay freeze in effect since 2010 and obviously, they've done such a fantastic job between then and now that they deserve this pay increase, right? it makes no sense, it makes no sense in terms of the merits and the performance in washington has been terrible and it makes no sense in terms of the politics and the atmospherics, they're getting a pay raise before they fix the fiscal cliff? who gets a pay raise before they get the job done? it's a ridiculous notion and shows me how out of touch washington d.c. is with the rest of the country. >> dave: it's certainly not about merit.
with holiday cheer. president obama when he spoke friday evening before he left to hawaii looked tired of the whole process. he'll be back mid next week as will congress. so they'll have a few days to get their acts together to come together on a smaller bill. it does not look like we're going to see anything large, the big deal at this point. we're looking at a scalled down measure if anything and it's not even clear that that will pass. >> kicking the can down the road. >> rachel, thank you so much for being here. >> thank you. >> all right. coming up -- there's a bar inside a local clothing shop. not sure what video that is. but we'll be right back. >> we want to tell you >> russia is taking drastic steps to prevent americans from don'ting -- don'ting -- adopting russian children. >> i thought i would have her here for this christmas. >> but for now baby paulina will stay in her russian orphanage. she says russian officials have made it nearly impossible. >> it's hurdle after hurdle. the process is incredibly burdensome. yesterday she made the difficult decis
obama say he's modestly optimistic that a last-minute deal can be reached with members of congress before america goes over the fiscal cliff four days from now. he's warning that no one will get everything they want, but he says that shouldn't stand in the way of reaching an agreement. >> we're now at the last minute. the american people are not going to have any patience for a politically self-inflicted wound to our economy, not right now. >> we are joined by former labor secretary robert reich, the author of "beyond outrage." i wish we had more time. i'd ask you all about how to fix it. but let's focus on this one part, secretary reich. you listened to the president. what did you hear? >> candy, i heard basically washington boilerplate, keep our fingers crossed, this is going to be a hail mary, but i have no idea how this is going to come out. >> when you hear him say, i've asked for an up-or-down vote, do you hear, there's a possibility or do you hear, uh-oh, this is a guy looking to position himself for after we go over the fiscal cliff? >> well, undoubtedly the president wants
presidential campaign. congress chocked full of retirement and president obama healthcare law. 2012 is a bit of a nail biter. president obama ran uno'posed. but sluggish economy and high unemployment and no plan for recovery made him vulnerable. >> president's policies have not been success to feel reignite the economy, putting people back to work. >> earning his party's nomination was not as easy for the former massachusetts governor mitt romney. even though romney went on to win decisive victories and becoming the republican nominee he emerged from the primary battle bruised. >> he is the worst republican in the country to put up against barack obama. >> romney's campaign saw several ups and downs but appearing confident and in command in the first debate, romney threw president obama off the game with the president delivering a shaky performance. >> the first debate sets the tone and can have the most impact but yeah, look, this is a series. >> mr. obama regained the footing by the third and final debate and ultimately won re-election. >> the best is yet to come. >> long serving texas co
hikes will tax place on january the 1st. >> president barack obama returned to washington deeply meyered in another partisan stalemate. but over in the capitol the lower house of congress remains dark to avert the fiscal cliff. it's republican leader will call the session on sunday. the top senate said his branch of congress must take the initiative on a compromise. >> it appears to me the action if there is any is now on the senate and we will have to see if we're able on a bipartisan to move forward. >> but the democrats say there can be no deal without republican concessions on tax increases. >> unless we get a sign-off from the republicans in the house, we can't get anything done. for them to talk about a bipartisan arrangement, we have done that. >> without a deal, the mediate effect would billion a tax hike. relief checks to $2 million -- 2 million onamericans would also cut, possibly triggers another major u.s. recession. >> things that you don't really need, you're not going to get. >> it will probably affect my finances in a huge way. >> it will affect my dad. my dad's 76 and he
90 hours to go until the fiscal cliff kicks in, president obama and top members of congress meet today at the white house, and the house will hold a rare session on sunday. but there are no signs that any proposals are taking shape that both sides can agree on. >>> and now for a look at what is trending today, our quick roundup of what has you talking online. every day thousands of people update social media sites like facebook and twitter when they get sick. now sickweather.com is scanning those sites to help predict outbreaks of illness like the flu, letting you take your ge germophobia. >>> well, bravo is giving us a sneak peek inside lindsay lohan's bedroom for an upcoming episode of "million dollar decorators." they agree that the mirrored bed frame has got to go. you can see the full episode january 1st on bravo. >>> miley cyrus' cover of dolly parton's j"joline" is going viral. she just released the sessions she did with her band over the summer. here's a listen. ♪ joline, joline, joline >> video was only posted this week, but it was shot before miley got her new distinc
of congress will meet with president obama at the white house. it could be the last shot to avoid going over the so-called fiscal cliff. but is the meeting just for show or could we really truly be close to a deal? doug is live in washington with more details, what are we in for? >> to be a fly on the wall in this meeting. these are the players that will be there today. the president with congressional leaders from both parties to see if they can get something done. it may be substantive, it may be window dressing. >> any time you announce a meeting publicly in washington, it's usually for political theater purposes. nothing good ever comes from it. there is one thing you have to do in politics. if the president meets with a foreign leader, you want to make sure you know what's going to happen at the meeting. when the president calls congressional leaders to the white house, it's all political theater or they've got a deal. my bet is all political theater. >> kelly: well, we will see. >> congress thee receipticcally could get something done. we saw the congress work yesterday. the house is g
obama says he remains optimistic, but he says no bargain could be reached in congress, then congress must vote on his back up plan to block taxes for anybody making less than $250,000 a year. chief congressional correspondent mike emmanuel has more. mike, you just got new details 23r* mitch mcconnell. what are they? >> that's right. discussions have been taking place all day. both sides have been trading paper, ideas and that talks continue. we understand legislative staff will continue working into this evening. meanwhile, huer is a fair and balanced look at where things stand. >> i do think that something will happen over the next few days relative to the revenue piece. hopefully we can rescue most americans from a tax increase. but what we haven't dealt with again is the spending component. jay we just can't afford -- >> we just can't afford a politically self-inflicted wound to our economy. keeping it that way means folks you sent to washington have to do their jobs. the housing market is healing, but that could stall as folks are seeing smaller paychecks. >> with time running ou
send our weak economy plunging back into a recession. president obama says he remains optimistic, but he says no bargain could be reached in congress, then congress must vote on his back up plan to block taxes for anybody making less than $250,000 a year. chief congressional correspondent mike emmanuel has more. mike, you just got new details 23r* mitch mcconnell. what are they? >> that's right. discussions have been taking place all day. both sides have been trading paper, ideas and that talks continue. we understand legislative staff will continue working into this evening. meanwhile, huer is a fair and balanced look at where things stand. >> i do think that something will happen over the next few days relative to the revenue piece. hopefully we can rescue most americans from a tax increase. but what we haven't dealt with again is the spending component. jay we just can't afford -- >> we just can't afford a politically self-inflicted wound to our economy. keeping it that way means folks you sent to washington have to do their jobs. the housing market is healing, but that could
's "meet the press." mr. obama is expected to call for an immediate vote by congress on a scaled-back plan that would only extend middle class tax breaks and unemployment benefits if the congressional negotiations fail. >>> fears over the fiscal cliff are weighing heavily on u.s. stocks, which posted five straight days of losses. the dow had a triple-digit loss on friday. the nasdaq and s&p 500 entered the day and week in the red. i spoke with one wall street trader about mow a deal could help the markets get back in the green. >> listen, if we get a deal and we get a deal that's substantive and realistic and that the market believes, i think the market will rally back and certainly rally back to the 1425, 1440 level. they won't go back it to 1475 unless they pull the complete rabbit out of the hat. i don't think that will happen. the market will certainly rally. you can feel it. every time one comes out and is optimistic, you see the market try to take back some of the losses because it wants a settlement and a resolution. the fact is it's not getting it. the market will vote with its fee
the u.s. two months of grace. president barack obama has said he is still hopeful that a resolution can be reached this year. he cut short his vacation in hawaii to restart negotiations with republicans in congress. before christmas, the president called for bipartisan cooperation. >> now is not the time for more self-inflicted wounds, certainly not those coming from washington. >> analysts say failure to reach a deal with poison u.s. consumer spending. the fiscal cliff would trigger tax increases and government spending cuts in january, leaving far less money in the economy. the international monetary fund warrants of knock on effects for the global economy. -- warns of knock on effects for the global economy. the pressure is on in washington to agree on a plan. only then might the applause on wall street be a little more genuine. >> with the clock ticking ever more loudly in washington, let's bring in our correspondent. first off, are the prospects of an agreement as dim as we are hearing, or could there be a last-minute deal? then of course this could happen, but i think it is quite
in the nation's capitol. let's get to danielle nottingham with details. >> reporter: top congress impressional leaders left the white house after a last-ditch fiscal cliff meeting with president obama. the closed-door meeting was an attempt to avoid the automatic tax hikes and spending cuts set to king at the start of the new year. >> we had a constructive meeting today. senator reid and senator mcconnell are discussing a potential agreement where we could get a bipartisan bill out. >> reporter: at the present time reminded lawmakers thers
, obviously because it's looming. because it effects just about every american in our country. president obama cutting short his christmas vacation today to continue trying to hash out a deal with congress. they have until next week to get it done before people will start to feel the pain in their paychecks. that's all of us. molly henneberg with the news now live from washington. molly? >> harris, as you were saying taxes are going up for almost everyone immediately if we go over the fiscal cliff. it likely will take a toll on already stretched family bench. take a look at the numbers from the tax policy center. for those whose taxes do go up this is the average tax hit family also take on top of what they already pay in taxes. below 10,000 they will pay an average of about $300 more. look down the chart a bit. those who make between 40 and 50,000 they will have to pay an extra $1,700 more. looking at the next set of numbers for wage earners, 50 to 75,000. they will have to find an extra $2,300 to send to washington. and if you managed to make over $200,000, if you go over that income mark, i
soon. but six days before the fiscal cliff, president obama cutting short his christmas vacation on the off chance he and congress might be able to cut some kind of deal. he left. but brianna keilar is still there in honolulu. when's the president leaving and why does he really expect to avoid the cliff? >> reporter: i will be leaving as well when the president leaves, don. he is expected. he will be leaving tonight. that's local time. so he'll be traveling overnight and arriving back in the d.c. area late thursday morning. as you know, the senate reconvenes tomorrow. so he'll be going back as that is happening. we heard from him last week as he was heading out to hawaii. he said, see you next week. we had a thought that this was probably going to happen. he is officially now going back. he said last week, don, that he is still optimistic that something can get done. the other issue here, though, is you can imagine, how bad it would look if he go over the cliff and there's a lot of work to make sure that doesn't happen. he's here in hawaii on vacation. that would look terrible fo
tornados. mobile, alabama, appeared to be the hardest hit with major damage downtown. >>> president obama is cutting short his vacation to head back to washington to try to reach a compromise on the fiscal cliff. congress will also return from its holiday break. >>> you'll see great deals today at the stores. preholiday sales were disappointing this year. so, now, many retailers are stuck with the inventory they need to clear out. >>> and looking at today's weather. rain along the west coast. snow in the mountains. cold in the center of the nation is, with blizzard warnings in seven states. heavy rain in the northeast. >>> and finally, the most unlikely of christmas gifts. and we know this one isn't being returned today. that's simply because it's the family's dog. >> this is such a heartwarming story. it was stolen from a street in new york city. now, thanks to good samaritans the dog is back home. andy seal of wabc reports. >> oh, yes. >> reporter: angie estrada and her daughter, mia, never thought they would see their dog, marley, again. >> he's so fluffy. and he's so adorabldorable. i
thought of what the congress said there? >> he makes a good point there. the pressure of the left. obama won a re-election and he learned that when he tried to negotiate in good faith with boehner and sort of move toward the middle and give concessions, criticized pretty sharply before maybe going too quickly to do that. i think he'll stand up longer this time. i don't think he's going to go lower. republicans of course want equal amount of spending cuts and the goal, the catch and how they do that. the president wants them to come forward with a plan. what do you want to cut? put it on paper. we'll see if that happens. won't happen in the next few days. i think again talking about more of a temporary measure. >> political fallout and as you heard congressman cummings there, meredith, he seems to think it will be -- fault aimed toward the republicans and won't it hurt both sides at the end of the day with the number of options on the plate? >> well, sure. i mean, if you look at congressional approval levels, excuse me, nationwide, i mean, people don't like congress. they don't like the f
to avoid the distinction, congress needs to submit about 100 bills to president obama in the next few days. >>> that lack of productivity isn't hurting paychecks on capitol hill. even as tax hikes and an end to unemployment benefits for two million people could be on the way because of the fiscal cliff, congress, though, hey, about to get a raise. part of an executive order that president obama issued which ends a pay freeze for federal workers. their salaries, yeah, they'll if up by half a percent after march 27. that's an extra $900 before taxes. currently members of congress make $174,000 a year except for leaders who make a little more. the last time there was a pay raise was 2009. >>> there is one thing the senate has agreed on, getting aid to victims of superstorm sandy. by a 61-33 vote the chamber passed a measure offering $60 billion in help. it heads to the house which must approve the bill by thursday or else the process to consider the money has to start all over again. at least 113 people were killed when superstorm sandy hit in late october. the governors of new york and new j
does show that president obama is in the mid-50s when it comes to his polling ratings on how he's handling the fiscal cliff. republicans in congress are in the mid-20s. >> that's right, there's no question about that, tremont. obama has done a much better job of positioning himself to take advantage of the fiscal cliff. he has painted republicans is only caring about their millionaire and billionaire friends. taking hostage the people of america. you have steny hoyer saying that republicans want to take children hostage and threatened to shoot them. this is vilifying republicans and it has been incredibly effective. in the short term, absolutely, the president is set to take advantage of this. tax increases, massive tax reductions to the military. republicans really stand and the notion is appalling about who wins, but the republicans win because the economy is going to go out yet another fiscal cliff. george w. bush is not the president. obama is the president, he is not putting forth proposals to work with republicans. he will have to take ownership of this. they need to come
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